Exhibit 5.1
Yigal Arnon (1929-2014) Dror Vigdor Amalia Meshi Amnon Lorch Hagai Shmueli Barry Levenfeld David H. Schapiro Hagit Bavly Orna Sasson Barak Tal Shiri Shaham Doron Tamir Daniel Abarbanel David Osborne Gil Oren Ronit Amir Yaniv Orly Tsioni Mordehai Baicz Barak Platt Benjamin Horef Yoran Gill Asaf Eylon Daniel Marcovici Adrian Daniels Yuval Shalheveth Jacob Ben Chitrit Peter Sugarman Ben Sandler Boaz Fiel Joeri Kreisberg Simon Weintraub Ruth Loven Yarom Romem Adam Spruch Yuval Bargil Eliran Furman | Ofir Levy Hanital Belinson Yoheved Novogroder Odelia Sidi Shira Lahat Micki Shapira Eran Zach Ido Chitman Aner Hefetz David Akrish Nir Rosner Assaf Mesica Liron Hacohen Guy Fuhrer Ezra Gross David Roness Eli Greenbaum Lee Maor Guy Sagiv Shani Rapoport Lior Gelbard Keren Tal Naftali Nir Yael Hoefler Sagi Schiff Netanella Treistman Daniel Damboritz Yulia Lazbin Joshua Lieberman Roy Masuri Sivan Gilron Dotan | Tomer Bar-Nathan Edan Regev Gitit Ramot-Adler Guy Kortany Goor Koren Nir Rodnizky Michal Sagmon Hila Rot Neta Goshen Chen Lanir Daphna Livneh Tamar Gilboa Alona Toledano Lihi Katzenelson Naama Hod Yehudit Biton Omri Schnaider Rinat Michael Adi Attar Amos Oseasohn Ofir Paz Adi Daniel Dafna Shaham Miriam Friedmann Roni Osborne Shir Eshkol Noam Shochat Guy Fatal | Itamar Cohen Yonatan Whitefield Moshe Lankry Shira Teger Rachel Lerman Ravid Saar Sophie Blackston Elad Morgenstern Sara Haber Carmel Nudler Shmuel Brill Ben Nachshon Yehonatan Cohen David Shmulevitz Tair Cherbakovsky Aaron Shaw Guy Ziv-Shalom Lior Cohen Goldstein Shiri Vilkin Nataly Damary Shiran Glitman Dani Weissberg Lareine Khoury Nohar Hadar Nitzan Kahana Tali Har-Oz Tal Alon Ohad Sarusi Mor Ido Tomer Tako | Moshe Pasker Mazi Ohayon Nitzan Fisher-Conforti Victoria Savu Derora Tropp Hila Amiel Chaim Cohen Michal Mor Daniel Siso Shalhevet Hetli Galit Frank Maytal Spivak Avraham Schoen Elan Loshinsky Josh Hauser Eitan Cohen Itai Guttel Dror Kanarik Sarig Royi Heilig Carmel Bareket Vered Glaubach Yair Taitelbaum Gabi Priel Regina Pevzner Igal Lavi Carmel Bareket Areen Nashef Ido Zahavi Guy Yarom Hillel Segal Avital Salzman | Rotem Cohen Idan Adar Shahar Iluz Itay Ashkenazi Roei Brizel Ido Sella Evyatar Latz Hadil Nassif Khawand Ran Aziel Stav Orenstein Avia Ickovics Danielle Gabrieli Lior Hochshtadt ofek Sinai Shmuel Ofen Or Perel Katya Kagantsov Uri Galatt Yarden Weber Maya Haran Yuval Dekel
Gidon Weinstock Of Counsel Roy Keidar Of Counsel Tamar Tavory Of Counsel Paul H. Baris (1934-2010) Rami Kook Nira Kuritzky Eran Ilan |
Tel Aviv | June 4, 2021
Enlivex Therapeutics Ltd.
14 Einstein Street,
Nes Ziona, 7403618
Israel
Dear Sir/Madam:
We have acted as Israeli counsel for Enlivex Therapeutics Ltd., a company organized under the laws of the State of Israel (the “Company”), in connection with the registration statement on Form S-8 (the “Registration Statement”) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), for the purpose of registering under the Securities Act 4,150,704 ordinary shares of the Company, par value NIS 0.40 per share (the “Ordinary Shares”), that may be issued pursuant to equity-based awards granted under the Company’s Global Share Incentive Plan (2019) (the “Plan”). The Ordinary Shares issuable under the Plan are referred to herein as the “Award Shares.”
In rendering an opinion on the matters hereinafter set forth, we have assumed the authenticity of all original documents submitted to us as certified, conformed or photographic copies thereof, the genuineness of all signatures and the due authenticity of all persons executing such documents. We have assumed the same to have been properly given and to be accurate, we have assumed the truth of all facts communicated to us by the Company, and we have also assumed that all consents, minutes and protocols of meetings of the Company’s board of directors and shareholders meetings of the Company which have been provided to us are true, accurate and have been properly prepared in accordance with the Company’s incorporation documents and all applicable laws. In addition, we have assumed that in connection with the issuance of Ordinary Shares under the Plan, the Company will either (i) receive consideration in an amount not less than the aggregate par value of the Award Shares covered by each such issuance, or (ii) otherwise act as required pursuant to the Israeli Companies Law 5799-1999 to record on the Company’s balance sheet under shareholder’s equity, the aggregate par value of the Award Shares covered by each such issuance.
 | 1 Azrieli Center, Tel Aviv, 6702101 | Phone: +972-3-6087777 | Fax: +972-3-6087724 31 Hillel Street, Jerusalem, 9458131 | Phone: +972-2-6239239 | Fax: +972-2-6239233 www.arnon.co.il | info@arnon.co.il |
On the basis of such investigation as we have deemed necessary, and subject to the assumptions set forth above, we are of the opinion that the Award Shares have been duly and validly authorized for issuance and, when issued upon due exercise in accordance with the applicable award agreement and pursuant to the terms of the Plan, the Awards Shares will be legally and validly issued, fully paid and non-assessable.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations of the Securities and Exchange Commission thereunder.
The above opinion is based on facts existing on the date hereof and of which we are aware. We express no opinion as to any laws other than the laws of the State of Israel as the same are in force on the date hereof and we have not, for purpose of giving this opinion, made any investigation of the laws of any other jurisdiction. This opinion is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated.
This opinion letter is rendered as of the date hereof and we disclaim any obligation to advise you of facts, circumstances, events or developments that may be brought to our attention after the effective date of the Registration Statement that may alter, affect or modify the opinions expressed herein.
| Very truly yours, | |
| /s/ Yigal Arnon & Co. | |
| Yigal Arnon & Co. |
| 1 Azrieli Center, Tel Aviv, 6702101 | Phone: +972-3-6087777 | Fax: +972-3-6087724 31 Hillel Street, Jerusalem, 9458131 | Phone: +972-2-6239239 | Fax: +972-2-6239233 www.arnon.co.il | info@arnon.co.il |